Senior Debt Leverage Ratio definition

Senior Debt Leverage Ratio means, for any period, with respect to Borrower and its Subsidiaries on a Consolidated basis, the ratio of (a) the unpaid principal balance of the Term Loan on the last day of such period to (b) Adjusted EBITDA for such period.

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Senior Debt Leverage Ratio means on any date a ratio calculated as provided in the definition of Leverage Ratio contained herein; provided that the term "Consolidated Senior Debt" shall be deemed inserted in lieu of the term "Consolidated Debt" in clause (i) of the definition of Leverage Ratio.

Senior Debt Leverage Ratio means, with respect to any period, the ratio of (a) consolidated Senior Debt of the Borrower and its Subsidiaries as of the last day of such period to (b) EBITDA for such period.

Examples of Senior Debt Leverage Ratio in a sentence

The U.S. Borrower will maintain, on a consolidated basis and tested as of the last day of each of the U.S. Borrower’s fiscal quarters for the four (4) quarter period ending in that date, a Senior Debt Leverage Ratio of not greater than 2.5 to 1.0.
Notwithstanding the foregoing, in the event that the Borrower makes a Price Reduction Election, the maximum allowable Senior Debt Leverage Ratio for each corresponding period occurring after the date of such Price Reduction Election through the Maturity Date shall be permanently reduced by 0.25.
The Borrower will not permit the Consolidated Senior Debt Leverage Ratio as of the last day of any fiscal quarter to be greater than 2.00 to 1.00.
At any time during which the Senior Debt Leverage Ratio is greater than 2:1, the Revolving Credit Unused Line Fee shall be increased to an amount equal to thirty-seven and one-half hundredths of one percent (0.375%) per annum of the average daily unused and undisbursed portion of the U.S. Revolving Credit Committed Amount minus the average daily disbursed portion of the Dutch Revolving Credit Committed Amount.
The Consolidated Senior Debt Leverage Ratio at each Calculation Date shall be no greater than 2.50 to 1.0 for the fiscal quarter ending September 30, 2009 and at each Calculation Date thereafter.

More Definitions of Senior Debt Leverage Ratio

Senior Debt Leverage Ratio means, at any time, the ratio of Senior Debt to EBITDA (determined with respect to the most recently completed two financial quarters of the Parent Guarantor on an annualized basis).

Senior Debt Leverage Ratio means, as of the end of each fiscal quarter, the ratio of (a) the principal balance of all amounts outstanding under this Credit Agreement on such date to (b) EBITDA for the twelve month period ending on such date.

Senior Debt Leverage Ratio means, with respect to any period, the -------------------------- ratio of (i) Indebtedness for Borrowed Money as at the end of such period minus ----- Permitted Subordinated Indebtedness as at the end of such period to (ii) EBITDA for such period.

Senior Debt Leverage Ratio means, at any date, the ratio of (x) -------------------------- Total Senior Debt at such date to (y) Consolidated EBITDA for the Measurement Period ended on or immediately prior to such date.

Senior Debt Leverage Ratio means, as of the last day of each fiscal quarter, the ratio of Consolidated Senior Indebtedness (computed as of the last day of each such fiscal quarter) to Consolidated EBITDA (computed for the four fiscal quarters then ending).

Senior Debt Leverage Ratio means, on any date of determination, the ratio of Total Senior Debt to Annualised EBITDA.

Senior Debt Leverage Ratio means, on any date, the ratio of (a) Total Debt (other than Subordinated Indebtedness) as of such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP. "Senior Subordinated Note Indenture" means the Indenture pursuant to which the Senior Subordinated Notes are issued, as such indenture may be amended from time to time to the extent permitted under Section 6.11. "Senior Subordinated Notes" means the up to $440,000,000 principal amount of 9-5/8% Senior Subordinated Notes due 2003 of the Borrower issued pursuant to the Senior Subordinated Note Indenture. "SMG II Holdings" means SMG II Holdings Corp., a Delaware corporation. "Specified ERISA Event" means all ERISA Events associated with the transfer in 1997 of assets of the Borrower or its Subsidiaries, relating to the inventory distribution and trucking functions of the Borrower's or such Subsidiary's business, to third parties that will perform such functions under contractual out-sourcing arrangements, which ERISA Events could reasonably be expected to result in liability of the Borrower and the Subsidiaries of an aggregate amount of up to $7,500,000. "Special Purpose Subsidiary" means each wholly owned Subsidiary of the Borrower that is organized for the purpose of, and is engaged solely in the business of, (a) owning a fee or leasehold interest in a single Real Property Asset and (b) owning or leasing Equipment located at such Real Property Asset, in each case used in the operation of a Related Store, provided that such interest in such Real Property Asset and such Equipment is acquired by such wholly owned Subsidiary after the Effective Date (i) directly from a person other than the Borrower or any Subsidiary or (ii) from the Borrower or any Subsidiary (A) in the case of the interest in such Real Property Asset, no more than 270 days after the later